Key Kentucky state worker pension fund in distress

Assets dip, but payments not in jeopardy

9:15 PM,
Aug. 29, 2010

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Written by

Stephenie Steitzer
ssteitzer@courier-journal.com

FRANKFORT, Ky. - The largest pension fund for state workers is considered one of the most troubled public employee pension funds in the country, with administrators having to cash out investments each month to pay benefits.

The Kentucky Employees Retirement System - which covers 84,000 retirees and workers in jobs that don't involve hazardous duty - faces a roughly $6billion shortfall. Pension recipients are in no danger of going unpaid, however.

In a representative sample of more than 100 public pension funds, the Washington-based Center for State and Local Government Excellence ...